The Transformation of the Global Trading System Post Trump Era

The global trading system is on the verge of significant changes after Donald Trump's term as president of the United States ends. In a video from WION titled "How Will Global Trading System Look After Trump's Term Ends", various dynamics that will affect world trade are discussed, both from an economic, political perspective, and new challenges that arise amidst international market turmoil. This article will explore in more depth the projections of the global trading system and the factors that could change the direction of its trade.

The Impact of Trump's Policies on the Trading System

During his term, Trump was known for his "America First" policy that put pressure on traditional trade alliances, including NAFTA and TPP. In WION content, it is explained that this policy created tensions between the United States and partner countries, often leading to trade wars . The focus on domestic production led to increased import taxes, which triggered retaliatory responses from other countries.

There are several immediate effects of Trump's trade policies:

Aspect	Before Trump	After Trump
Trade Agreement	Multilateral	Bilateral/Unilateral
Diplomatic Relations	Collaborative	Transactional
Trade Policy	Open	Protectionist

Why is this change important? Because protectionist policies aimed at protecting local industries affect not only the U.S. economy, but also the economies of trading partners that depend on stable and profitable market access.

What to Expect After the Trump Era?

After Trump's term, many analysts predict that the global trading system will face significant changes . In the video, several possibilities are mentioned:

Return of Trade Diplomacy : With new leadership, there is hope for a revival of multilateral agreements oriented towards international cooperation. This could help reduce previous trade tensions.
Technological Transformation : Advances in digital technology and e-commerce can be a major driver. Many companies will adapt to new digital platforms that facilitate global trade. This transformation can speed up logistics processes and lower transaction costs.
Focus on Sustainability : Climate change and sustainability issues will be front and center in trade policies. Countries may seek to include environmental criteria in trade agreements to make them more sustainable.
Shifts in Supply Chains : The COVID-19 pandemic has exposed vulnerabilities in global supply chains. Countries may be more concerned about supply chain security and seek to diversify their sources.

Challenges to be Faced

While there is hope for positive changes in the trading system, significant challenges remain:

Geopolitics : Tensions between major powers such as the US and China may still be an obstacle to strengthening trade cooperation.
Protection of Labor : Pressure to protect domestic jobs may remain a major consideration, which may limit flexibility in trade agreements.
New Regulations : New regulations may emerge to govern digital commerce, posing challenges for companies operating in global markets.

Conclusion

By looking at the analysis of the WION video, it is clear that the global trading system will face a complex transformation in the post-Trump era. The projections show the hope of returning to multilateral cooperation, along with the challenges that must be faced in maintaining stable international relations. Globalization will continue, but with new nuances that answer the challenges of the times.

In conclusion, amidst these changes, it is important for stakeholders to remain adaptive to new developments in the global trade ecosystem. With the right approach, the future of global trade can be more inclusive and sustainable.

"Change is not only a challenge, but also an opportunity to grow and innovate." - [Relevant quote about change]

As we enter this new era of global trade, collaboration and adaptation will be key to achieving success in an increasingly dynamic international market.

Source: https://www.youtube.com/watch?v=8EY_jvxyEow